Onto Innovation Inc. (NYSE:ONTO) Position Trimmed by Systematic Financial Management LP

Systematic Financial Management LP cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 29.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 150,178 shares of the semiconductor company’s stock after selling 62,213 shares during the period. Onto Innovation comprises approximately 1.0% of Systematic Financial Management LP’s holdings, making the stock its 17th biggest position. Systematic Financial Management LP owned 0.30% of Onto Innovation worth $32,973,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. UBS Group AG boosted its stake in Onto Innovation by 714.0% in the fourth quarter. UBS Group AG now owns 53,731 shares of the semiconductor company’s stock valued at $8,215,000 after acquiring an additional 47,130 shares during the period. Parallel Advisors LLC grew its stake in Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares during the last quarter. TFO Wealth Partners LLC increased its position in Onto Innovation by 111,150.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,225 shares of the semiconductor company’s stock worth $340,000 after buying an additional 2,223 shares during the period. Eagle Asset Management Inc. lifted its stake in Onto Innovation by 36.8% in the fourth quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after buying an additional 79,530 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Onto Innovation by 54.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 178,216 shares of the semiconductor company’s stock valued at $27,249,000 after acquiring an additional 62,756 shares during the period. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $215.37 on Friday. Onto Innovation Inc. has a 1 year low of $108.98 and a 1 year high of $238.93. The business’s fifty day moving average is $195.85 and its 200-day moving average is $202.58. The stock has a market cap of $10.61 billion, a PE ratio of 76.64 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. Onto Innovation’s revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. Equities research analysts predict that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ONTO shares. Stifel Nicolaus lifted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Oppenheimer started coverage on Onto Innovation in a research report on Wednesday. They set an “outperform” rating and a $260.00 price objective for the company. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, August 9th. Finally, B. Riley raised their price target on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average price target of $259.17.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.